"MARKET OPERATOR" TO BECOME ADMINISTRATOR OF THE ELECTRONIC REPORTING SYSTEM FOR MINIMUM OIL AND PETROLEUM PRODUCT STOCKS

By Order No. 41 dated January 29, 2025, the Ministry of Energy of Ukraine, in compliance with the Law of Ukraine "On Minimum Stocks of Oil and Petroleum Products," has designated Market Operator JSC as the administrator of the electronic reporting system for minimum oil and petroleum product stocks.

Purpose of the Electronic Reporting System

The system aims to establish a transparent mechanism for monitoring the formation, storage, utilization, and exchange of data on Ukraine's strategic reserves of oil and petroleum products.

What Does This Mean for the Market?

As Ukraine integrates into the European energy space, the implementation of the electronic reporting system is a key step toward ensuring transparency and alignment with EU best practices. Similar systems are already successfully operating in Germany, France, Poland, and the Czech Republic, providing:

• Real-time monitoring of minimum stock levels;
• Rapid response to potential fuel shortages;
• Harmonization with EU energy security requirements.

Why Market Operator JSC?

Market Operator JSC has extensive experience managing large-scale data sets in the energy sector and possesses the necessary expertise to oversee the system's administration.

The initial phase will involve consultations with market participants to account for their needs and ensure a smooth transition to the new reporting framework.

Next Steps

The development and implementation of the system will proceed in several stages, including:

• Establishing the regulatory framework for system operation;
• Defining data submission formats and mechanisms for interaction with businesses;
• Testing the platform with key market participants.

"Our focus is on creating an efficient mechanism that ensures market stability and compliance with European standards," said Alexander Havva, CEO of Market Operator JSC.

Commitment to Cooperation

Market Operator JSC is open to collaboration with market participants, experts, and international partners to develop a transparent, efficient, and modern system for managing minimum oil and petroleum product stocks.